Building permits issued for single-family homes — a forward-looking indicator for new single-family home construction — fell for the first time on an annual basis in nearly three years, according to a new report from the U.S. Census Bureau.

They slid 1.8 percent month over month in February to an annual rate of 588,000, and were down 2 percent from a year ago, marking the first annual drop since June 2011, according to the Census Bureau. 

Meanwhile, new construction of single-family homes inched up in February but not enough to surpass year-ago levels, according to the report.

While single-family housing starts increased 0.3 percent month over month in February to an annual rate of 583,000, they were down 10.6 percent year over year, according to Census Bureau data.

Source: U.S. Census Bureau

Editor’s note: This story has been updated to correct calculations based on housing starts, not building permits.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect is LIVE next week! Join us and thousands of your peers from wherever you are.Register Today×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription